Episode 104 introduces the concepts and differences between buying channels and payments options.
I address the different ways suppliers can be paid:
- ACH
- Physical Checks
- Wire Transfers
- Credit Cards
- Third Party Payment Companies
- Supply Chain Financing
Then I shift into how suppliers can submit invoices… buying channels. I cover the differences between:
- Manual Invoice Processing
- Purchase Orders
- Invoice Against Contract
- Catalogs
- Spot Buying
This video lays a good foundation on how and why companies pay suppliers in different ways.
Script/Notes of this video (click here)
Photo by Avery Evans on Unsplash